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tv   Mornings With Maria Bartiromo  FOX Business  September 16, 2015 6:00am-9:01am EDT

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nobody is going to mess with us. maria: big day for the markets for the federal reserve kicks off its two-day policy meeting. we will know tomorrow still raise rates. inflation with the latest epi numbers ahead of the meeting. let's check feature is that the market acted to open lower. the dow industrials seen opening 20 points. nasdaq, s&p 500 lower. a ship with a pretty good rally overnight with gains across the board. shanghai composite of 5%. a.k.a. japan up 1%. european markets higher this morning ahead of the federal reserve decision. cac in paris up 45, dax and germany at 33-point, a third of a percent. hewlett-packard, a technology giant will cut 30,000 jobs as part of a restructuring on top
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of the 55 passing cut the previously announced socket $27.11 per share. the death toll from flash flooding in southern utah raising to at least 16 people, for people still missing. residents have been asked to boil water due to contamination risk. firefighters make progress on a devastating wildfire. now 30% contained. a lot better than yesterday but has destroyed nearly 600 homes. 9000 structures that risk. stephen colbert lining up another big gas. apple ceo tim cook stopped by. >> what should i ask him quote? >> do me a favor, ask him when i'm going to get a raise.
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[laughter] maria: they beat the dodgers after 16 innings thanks to a homerun. he was 3:30 a.m. on the east coast for the game. finally came to a close. presidential candidates gearing up in 2016. lake urman at the presidential library in simi valley, california. what can you tell us? good morning. reporter: the ronald reagan presidential library behind me outside of l.a. the second debate of the gop presidential cycle. 11 candidate later tonight. there's always the debate at just how much did they can impact things. what we've seen since the first fox news debate, it appears a lot. donald trump has held his commanding lead in the polls. his numbers rising according to the latest politics average.
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the biggest in the last five weeks is another political outsider, dr. ben carson. said his strategy tonight won't be changing at all. >> i don't my strategy will change at all. it is to tell the truth and talk about my vision for america, which is something a lot of people resonate with. reporter: some other things to watch, jeb bush numbers have basically dropped in half since the last debate and scott walker support has dropped her. it's fair to say his support has eroded here over the last five weeks or so. those will be watching along with carly fiorina. she was not on the main debate stage last time. tonight she will be. 11 people, not 10 tonight.
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maria: blake burman this morning from the reagan library. for more on this one, julie brezinski, for an executive director sabrina schaeffer. good to see you. thank you for joining us. julie, what do these candidates need to do to stand out? >> it's a tough call because he is the front runner and that's what he would do in the debate. on the other hand he's amazing in terms of eradicating as they saw the last debate. voters for whatever reason tend to stick with donald trump. carly fiorina probably the best position to do that as a woman in someone whose the only one in the field able to take him on. maria: you are right. she has been articulate.
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sabrina you think people will start to many specifics. donald trump giving the speech and filling up the room on the uss iowa. not a lot of detail in terms of his solutions. when you think people will demand granularity? >> i think soon. people want to hear kenny kennedy is down to the personal, emotional level. one thing appealing as he seems like a real human being. he doesn't seem over handled her of her script it. he's able to walk away and bring it back to the kitchen table. that's what a lot of voters, especially women voters want to hear. that is what is appealing about 10 carson and carly fiorina. a few people were very good at the last debate. marco rubio, that's one of the things i'll be looking for. who can make this about real
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human life rather than the balance sheet. maria: julie, what about that. if you look at the dems had the dems side, same thing. people are sick and tired of the establishment. you can see that from bernie sanders. >> daughter stella translates to 16 when people look for experience. right now, joe now, joe biden noncall bear, someone like a carly fiorina or donald trump who really resonates with voters. by a substance that someone can say i know this guy for this lady. that is what hillary clinton is suffering from, overly script did and somebody that looks at polls and something people don't want to look at. >> one of the ways carly fiorina has a leg up in addition to
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seeming like a normal human, she is rich with facts and ask. and when she gets up there to surprise a lot of people how much she knew not just about economic policy but foreign policy. that is something that will resonate with voters. we'll have to see how it pans out tonight. maria: wilbur ross of wl ross & co. when you think about the issues that are important, foreign policy, economic policy, tax, regulation, what is most important for you? >> the regulatory environment is the single most important thing because it's been the single most intrusive into business at dvds. rulings by the epa, nlrb. these agencies need to be brought to heel. maria: not to mention.frank and obamacare which has created a much higher cost for business.
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do you think that's the reason the economy is two steps forward, one step back. the retail sales underwhelming. >> that's a good part of the reason. i don't think it's all to do with a quarter-point rise by the fed. it has been way overplayed. you've got nothing going on anyway. maria: europe, particularly greece. mary ann, anything you think will rock the market is for impact market tonight in the debate? >> not necessarily. i believe we've overplayed this but it's interesting because the market is not expecting the fed to do a move. we are in a quarter-point rise. we do expect the fed to raise rates gradually. the risk is a hiccup in the market because most of the
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market is not praised for their great height. maria: in terms of economic policy is all about the sad. nothing on fiscal policy. from their standpoint, the most important fiscal conversation from these guys and gals tonight. >> i think donald trump has been made on assessments. not talking about on the terry policy which is so important in terms of what will happen the next two or three years. looking at tax proposals and a lot of people have offered identical tax proposals with donald trump be more aggressive than others. i would like to see somebody talking about substance. maria: bernie sanders has a 90% tax rate proposal out there. >> not on the republican side. >> tonight is differentiating themselves. candidates want to streamline the tax system and close loopholes. two people talked about other
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things which is rubio said that starts with the spending conversation. of course walker could be a defining moment. he brings her back to labor reform and reforming a public-sector union. i'm on the side of the taxpayer. he is an opportunity on that front. maria: that's a great point. let's not forget the $18 trillion he wants to spend. julie baginski, sabrina schaeffer. another story this morning is hewlett-packard 25,000 or 30,000 jobs and restructures the company separate entities. the layoffs cut $2.7 billion in annual expenses and amounts for 10% of the company's workforce. wilbur, but these cuts help hp? >> are necessary precursors to
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the split up of the company. i do think it is a problem for carly fiorina tonight. how come the company now has two laugh all these people? i think he will take a shot over her on that. maria: that is true. this is not a good day to have this announcement because somehow one of these guys will point to her performance at hp. >> is really questioned her business record. if you look at what happened at hp back in the day, she is often cited as one of the worst ceos in america. she did go through a rough patch but her record if you look closely, there's a lot to be questioned. back to the h.b. story restructuring has to happen. it's indicative of the next generation of software,
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technology and security. hp to compete with amazon and microsoft in a way it hasn't been able to before. >> we talk about the digital era at merrill lynch. it's about companies staying competitive with the new technology. hp trying to compete. maria: will take a quick break. when you're hell-bent on savings, as a supersaver will tell you about the millennial saving 15% of their salaries. the sox jumping this morning on news the company approached a possible takeover. the value would be $280 billion. take a look at anheuser-busch. the stock expected to open much higher this morning. we will be right back. ♪ can a business have a mind?
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maria: welcome back. the crisis in europe getting worse. cheryl casone with the story right now. >> good morning maria. that's right. hungry trying to slow the constructed fencing and riot police. german chance or angela merkel calls for an emergency meeting next week to address the crisis. back at home the faa declaring drum sounds in new york, philadelphia and washington d.c. ahead of the visit next week. anyone caught flying a drug may be subject to civil and criminal call charges.
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call them millennial supersaver is. 20% of retirement savers 18 to 30 are put away 15% of salaries into savings accounts. twice that the average millennial tries to save. the numbers speak $73,000 per year. $44,000. 30 darn good for these kids. they are so rough on the millennial is. maria: we are rough on the 20% which is a small number is the automated or you get the money taken out of your paycheck. when you go to pay your massive student loan does come you don't even account for the money and the automation has been making ginger are a lot of people. maria: interesting to see the savings mentality. i've always been a big saver but it's nice to see we are inching back towards saving.
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not getting any return with zero interest rates. >> the long-term picture is alleged. we are the only developed country that has millennial is. the only way they are going to grow their wealth as to the equity market or real estate. the long-term secular market part of the story is even though they seem to be delayed. it's a delayed demographic. but there are going to be significant components over time in our common stock market. maria: do you look at millennial south investor, wilbur? is this a portion this a porsche in a this a portion you see is impacting how you allocate money? >> for sure because it is the largest single site or of the whole demographic universe. we are so far has been different from the prior generation.
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they like to use things rather than own things. very big change. now the apartments are being built at the so-called micro-apartments come of little tiny very large common areas where they can hang out. if and when that changes you can have a real housing boom. from 2000 we are under a trend under the long-term trend. >> they like stocks, wilbur. they like socks. 80% of their portfolio in the stock market. >> of the 20% grew. 85% of 20% is 15. maria: that's a good point. of course your op-ed this morning on europe. in particular greek banks. at next a huge day for janet
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yellen. "the wall street journal" john hills and rat will weigh them live next.
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maria: welcome back. house republicans voted to go to with let the nations for decades been on oil exports. phil flynn standing by. good morning to you. >> good morning. the obama administration coming out against a potential beau. it is really about politics. the obama administration said it
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should be the commerce department under his watch making the decision. in the 70s, nixon did put the ban in place to congress later confirmed it is more about politics. the export ban will fall but it will take time before it gets going. right now oil prices higher today but i don't think it's about the export ban. maria: phil flynn, wilbur ross, with talk about the export ban. if you think it should be lifted? >> i certainly do. why should an american companies have equal ability to the iranians. >> you with excel. at this point we should be blessed event. europe and greece for a second. he wrote an op-ed. let's talk about that right now. while the 40% of greek families either work for the government and their little effect did by the new proposals.
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>> what is going on now is the european central bank three revealing on portfolios in the bank. asset quality review and a stress test to determine how much capital they might need. i hope they don't make an overly conservative assumption because the greek government already barred $30 billion to put in the bank's. they now get saddled with another 25 billion. it would be that much harder to pay it back. maria: how would you characterize the banks? euro bank acquisition there. the! cyprus is doing well. the economy has turned around. the capital controls listed in all of that. cyprus is very much on the mend. greece had been on the mend and then the administration indulge in this fantasy of being.
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negotiating that caused a lot of turmoil in that caused in turn depositors to withdraw funds. maria: do you like europe right now? >> i think you have to think about europe as individual countries that no one has ever introduced themselves to me as a european. they introduced themselves as greek or french or italian. it really is different. the country i worry about his friends. there's a very high chance in the next five or so years rates could be the big stick man in europe. maria: is gone from spain to greece and now back to france. what's your take on europe from an investment standpoint? >> from an investment standpoint we like europe. the ecb continues to put my depreciate. if you investor should be hedging the currency. maria: the federal reserve will
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work on raising interest rates. by another showtime. the chief economic correspondent john hilsenrath will be with us next. ..
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maria: it is wednesday, september 16th. with me is wilbur ross, fox business network's jo lin kent and bank of america merrill lynch c i o of portfolios solutions marion bartels. top stories this morning the second gop debate is tonight, tonight's event likely to be contentious as candidates look to knock donald trump, he is not even in the race, joe biden is taking on donald trump as well, in a speech yesterday joe biden blasted donald trump saying his comments on immigrants reflect the worst parts of society and he is putting out sick message. turn to the markets, everyone waiting on the fed, two day meeting begins today. the fed will raise interest rates at 2:00 p.m. eastern. the market is expected to open
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lower this morning and of that meeting, we expect 30 point decline for the dow jones industrial average, shares of a the index jumping on news the company approached as a d miller about a possible takeover combined value of these companies would be $280 billion. facebook hopes you like the dislike. mark zuckerberg revealing the company is working on a new feature after years of user requests. they shied away from this dislike but. a fireworks accident, near giants star defensive end jason pierre paul taken to instagram to post video of himself back in the gym, he said don't believe the hype, be back soon, the giants have not revealed that he will be back. janet yellen anticipating meetings today, will lecture and make a move after all is said and done. jon hilsenrath is the chief economic correspondent joining
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us in d.c.. tell us how you think this meeting plays out. >> of fed has a puzzling economy to look at on the domestic side, the u.s. economy looks like it is in pretty good shape, decent retail sales numbers yesterday's, the job market is creating jobs. what they're worried about is a international environment and the markets, they are worried that the market sending a signal that the outlook is changing for the worse. what it comes down to, i think the one fact that i think makes the most, has the most meaning to me is, this is a weird facts, janet yellen likes to get to the airport three hours early, she likes to have all of her ducks lined up, she doesn't like surprises. in an environment with so much uncertainty how to proceed it will be hard for her to proceed because she doesn't like to for a surprise people. maria: you don't think she wants to surprise people meaning she
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will raise interest rates or because in the last couple months market expectations have changed. >> that is the point i am trying to make, the market is not expecting the rate increase. futures markets, are around 30%, hard to see how a person who doesn't like to be surprised herself would turn around and surprised the market. that is why i think it is tough to move tomorrow. maria: you don't think they will move on interest rates. do you think they are? it is the debate given the economic data out there. >> economic data supports it, especially the labour market. we think they want to get armed emergency zero bound and get a lift off. and see how everything is absorbed but do it very conservatively in terms of raising rates. every other meeting may bring by a quarter of that point. maria: i don't know about that in terms of the labor department. he made an important point during the commercial break,
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talk about what you see happening in the jobs market right now. >> to me the biggest concern is labor force participation. only 62% of working age people are in the work force, 38% neither have a job or want one. what does that in turn mean? every three people who are working have to lug along two people. that to me is the most fundamental problem, keeping this economy from going at faster rate. maria: and amazing stat, 30% of working age people either not have a job and don't want one. >> the problem for the fed is not much they can do about that. they can cause more consumption but can't force people to come back into the work force. on top of all that, we have an aging population which is moving into retirement age, increasing that dependency ratio.
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maria: let aging population is important that nobody is as bad as international. we are not as bad as what is going on in europe. >> absolutely true. maria: the participation rate is something we focus on every month. >> it has been persistent over the last year and a half, hasn't moved that much. couple that with wage growth not really picking up steam. that is a big red flag that continues to wait for janet yellen. it is persistent, something as the job numbers continue to hike, something to balance as you look at the broader economy if people will consume. retail sales disappointed even though they were not that bad they did not meet expectations. maria: reality, the reality is the international community has slowed down quite a bit. is that why the fed plans change? we know the fed wants to get off of zero but the activity in china. the emerging markets, europe,
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changed the game for the fed? >> absolutely. in part because what is done is it puts the value of the dollar up so currency markets impose a tightening of financial conditions on the u.s. economy when the dollar is stronger it makes our exports more expensive, harder to sell stuff overseas and puts downward pressure on imports. because of that the fed is looking at a financial environment that is more restrictive today than it was in june. maria: that is what i have been focused on recently and the reason is because we have to ask with japan in recession, canada, europe, emerging-market still unable to get out of a funk, and that can it u.s. shows sustained growth when training partners are challenged? >> we are relatively less dependent on exports and most of the other countries. germany is probably most dependent on exports, china is very dependent, we are not so much.
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we are a big domestic market, we have negative trade balance. it is easy to overflow the importance of exports to the united states. maria: i realize the markets have been rallying on this idea that they will not raise rates. that is what you are seeing that the market rally yesterday, the futures are showing the majority does not accept the rate increase but i am wondering from you if the fed doesn't raise rates tomorrow and announce that increase does the market sell off? investors figure out this economy is worse off than i thought? >> it can go either way. what we have been telling clients is we expect continued volatility, we are in a seasonal week period for the markets, septembers' one of the worst performing months but we make important bottoms in october. we test the recent low, it is a minor blow, this is a major
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buying opportunity for investors that either went to rebalance the portfolio or have been sitting in cash because this is the first and isn't correction we had. it is a little more than that of the first anderson correction and what our clients keep saying is we want to correction to get into the markets and the news is bad but we have a hard time getting them in the markets but if you get another sell-off in the markets you should be aggressively buying equities. maria: are you on the other side of that rate or you want to buy stocks? >> we have been selling much more than we have been buying over the last year. five times as much selling as buying. not because we think it is the end of the ears but things are not so cheap anymore and we think there are times it is better to hide for a while so we are going into hibernation. maria: a little hibernation in the u.s. with international? >> we're doing a little bit internationally because there is dislocation, china particularly is getting interesting.
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maria: final question for you. if the fed does not raise tomorrow do you think it happens in december? we are data dependent. >> you forgot to mention october. maria: not meeting in october, no press conference. i made the assumption janet yellen does not want to raise rates and not explain it in a press conference. >> i don't think you can make that assumption. you have to look at two things tomorrow, you have to look at the action or lack of action for the signal. if they don't go tomorrow there is going to be a lot of people in the room who want to go and janet yellen wants to give them something. the signal they expect to move sometime this year. the domestic economy is strong, and improving, the job market is improving, if the signal that we don't act, we get something in october or december as long as these threats we have been talking about are more serious.
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maria: not just the move but the signal in terms of october and december. we know you would join us for special coverage, tune in for live coverage of the analysis of the fomc policy meeting, the fed decision on interest rates and to be anything, and questions from fresen to:30 p.m.. we have that live right here on the fox business network. social media platform snapped at testing an apps, purchases for the first time. nicole petallides is here with that store. nicole: we saw plenty of snap chat yesterday when arnold schwarzenegger did one of himself, snapped at is looking to monetize its core feature by charging users to reflate their snap messages. replate three snaps the company wants you to pay up. $0.99. this is the complete 180 from snap caps original premise, watch a short video ended disappears forever, so destruction, until now the company revenue came slowly from advertisements so we will have
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to wait and see if loyal snap chatters choose to play, replay these messages, you have to pay about fell why wouldn't they go to instagram unless they really are boylston at jetblue edge maria: there are a lot of loyalists on snap chat. thank you very much. >> replay, the reason people go to instagram. and it is only there for 24 hours, and this company is worth $16 billion. skyrocketing, big role on the presidential campaign, and it is further monetized. >> don't forget to start your day. all the information at 5:00 a.m.. not just stocks could take a hit from the fed but take a look at the decision and impact housing
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maria: ready or not, christmas
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could come early in this year. facebook the developing a companion for it's like button. cheryl casone you with details. cheryl: are you ready to shop? almost ready. talk about getting a head start on holiday shopping according to a new survey from creditcards.com 32 million americans have started shopping for the holidays, 5 million have crossed everything off of their list. facebook, you mentioned that, mark zuckerberg said he may put some what of a dislike button on the site. keep you posted on that. check out the us sports alert, celebrate a home run hit, the indians' game, there's a problem. fireworks were the wrong team. the fireworks operator didn't hide under his hat and got booeded. maria: thank you, what a video.
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what will the fed decision have tomorrow on whether to raise interest rates or not? what will that have on the housing market? my next guest says none at all. ron, thanks for joining us. the real threat right now, you say is for buyers? >> the real threat wheat today is making certain credit standards are reasonable enough that buyers can secure a mortgage, we see recovering market, we have our best year as the housing industry in eight years. it is still below the stretch and i think part of the market that is most stressed his home buyers. maria: why did it take so long?
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>> the back part of the problems with the housing market when credit standards didn't exist, people were buying beyond their capacity and were oversleveraged and of course the economy turned down and people lost their jobs and ability to pay and values were beyond reasonable level. >> there is also a shift in people's attitude toward housing. so many people, city dwellers, millennials, the ultimate city dwellers, the idea of the little house in the country is no longer a big thing. there is a psychological shift that has occurred. the worry is fannie and freddie are getting back into the same old thing, making two hi loan value loans and i don't think you do some one of favor putting
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them in a house they fundamentally can't afford. maria: that is what we saw in 2006. >> exactly. we certainly see a trend that has emerged over the last four or five years where millennials have opted for the urban life style. i would tell you the trend is not totally going away but we have seen millennials as they have children and looking for good schools. and the market and a lot of it is cyclical. one life silent another life style. >> a quarter point, and the housing market, what would impact the housing market, once we get into the cycle that rates go higher, 2016 look to you like it is going to be increasing?
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>> we have got a run rate of 100 basis points before it starts to impact buyers. the bigger driver is truthfully making certain people have a job and if they can't buy, if they don't have a job and can't buy a major assets, we are seeing an improving economy and what is interesting is housing activity is very strong in markets across the country where you have low unemployment. the higher the unemployment, the slower the housing market. maria: which is why use a a participation rate is so critical. >> putting it in perspective of 25 basis point increase in mortgage rate on a $250,000 mortgage is $35 a month. that is what it affects, monthly payments. maria: great analysis. thank you for joining us. we will see you soon. campaign donations in the one 40 characters or less.
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can you doing? endorse your favorite white house hopeful, right from your twitter feed. which candidates are ahead in the social media race. joy is breaking it down for us next. e is breaking it down for next.
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maria: users to support 2016 candidates. >> you can donate or a favorite political candidate. hillary clinton and ted cruz and walker. they are getting in the game because they want to raise those little donations that helps so much when it comes to generating supporters.
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twitter likes this too, these campaigns are raising revenue. what happened to these candidates on social media. a little bit of above. follow growth. ben carson followed by carly fiorina, donald trump and jeb bush and scott walker and this data comes from the gop side of things. you see these teams on social media that may indicate what we will see tonight. maria: i love the stats in terms of who has the most twitter mentions. >> donald trump leading in another category. maria: really good stuff. and the game in terms of almost 300. are you a buyer in this rally?
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>> no. it is a bear market rally. test the lows, we make a new look. a global fund manager survey represents $600 billion in assets and cash levels rose to 5.6%, the highest level since 2008. we get good contrarian signals. being an investor over the next 12 months, we think markets will be higher than we are today. we expect volatility between now and october. the risk is still the we go lower. maria: during the commercial break, a lot of people called yesterday's rally -- >> you often see that in the context of a bear market with these little blips coming up. i have given up trying to get things on a day-by-day basis. maria: you are betting everything with your money and
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selling five times more than you have been buying. great stats on the cash levels. we appreciate you joining us. wonderful to have you on set. jo lin kent, see you later on a program, stay with us.
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everyone loves the picture i posted of you. at&t reminds you it can wait. maria: in wednesday morning. i maria bartiromo. it is wednesday, september 16th. brittany sander smit and michael block and top stories as the republican field gears up for a second debate. the top 11 candidates including subtitle participate in the apm debate. the last debate was 10. this is 11. beginning at 6:00 p.m. eastern front runner donald trump not wasting time. chart made a foreign policy speech last night aboard the uss iowa that he was light on
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details. >> rants in a very short time. we will be building our military. we will make our military so big and so strong and so great. [cheers and applause] and it will be so powerful that i don't think we'll ever have used it. no one will mess with us. maria: a big day for markets that the federal reserve kicking off its two-day policy meeting. an 90 minutes look at inflation than the cpi number comes out ahead of the meeting. take a look at futures ahead of all of that. we are looking at a flat tire opening. the dow jones industrial average hitting unchanged at 60,520. s&p a little lower but the nasdaq showing strength this morning on the upside. asia stocks following the rally yesterday on wall street.
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shanghai composite in china up 5% on the session. hang seng company kim kospi also higher. european markets ahead of the fed decision. better than 50 points higher. dax up 60 points and the cac higher than better than 1%. stocks to watch today from the hewlett-packard. it will cut up to 33,000 jobs as part of a restructuring on top of the 55,000 cuts it has already previously announced. we are following the wild weather out west. the death toll from flash flooding a new tab rising to at least 16 in four people still missing. residents have been asked to boil water due to contamination risk. northern california firefighters now 30% contained. it has destroyed 600 homes and another 9000 structures at risk. stephen colbert are lining up
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another big guest on the late show. apple ceo tim cook showed up and showed off the new iphone success. >> what should i asked tim cook? >> do me a favor, ask them when i'm going to get a raise. [laughter] tree into just a few months after losing a finger in a fireworks accident, jason peter paul taken to instagram to post pictures of himself back at the gym. don't believe the hype. be back soon. it will be back within this year. republican presidential candidates gearing up for the second debate of the season for the 2016th cycle. blake burman at the ronald reagan presidential library in the mid-valley, california. good morning to you. reporter: good morning to you as well. the focus is on them donald trump. the ronald reagan presidential library outside of l.a. the last debate you might
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remember donald trump flew in a couple hours before hand. he is there to here in california and making his presence felt. i think he held an event at his boldest venue yet updated the uss iowa speaking about 20 minutes or so. trump talks about himself being a counterpuncher. he gave a bit of a preview as to how he might take on those who take them on tonight. take a listen. >> it is an instinct, something that is special. they don't have it. believe me, they don't have it. just more of the same. reporter: how might the soft-spoken dr. ben carson retreated tonight? will he be attacked as well? carly fiorina making her first appearance of the main debate stage as well.
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maria: thank you so much. we will bring in former george w. bush campaign spokesman terry holt along with richard goodstein. thank you for joining us. what do you want to see these candidates do to stand out tonight? >> i want to pick up on what donald trump had there appeared i want to know what it is. we need more than a cheerleader. we need a world leader. we have an economy teetering on recession all over the globe and i am ready for some substance surprisingly. maria: i think people are ready for substance. i've been looking for substance for weeks and we don't have a lot of granularity or specifics on policies, richard goodstein. you donald trump continues to rise in the polls. do you think people expect he does have the plan? >> i am with terry. this whole trump phenomenon is a house of cards and won't take
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much to bring it down. the thing i look for tonight is not even so much to challenge him on his lack of substance. last night was supposed to be a foreign policy address. it was a joke. there was nothing about foreign policy other than his usual drug and oco. he has been a bald-faced liar when he says no i didn't mean about carly fiorina space-bar megyn kelly and the bleeding. you go through the list. he says jack jacobs was an adviser. he's never once talked to donald trump. these are things if any other candidate did, they would be on their heels and a sack in here do i think trump is immune from that? no, i don't. i think the republican base has been misled with all due respect by the tea party thing get us and them we will these great things.
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guess what, reality got in the way. they should have been promising us in the first place. >> rock obama got in the way. tenure since they won a presidential campaign. this is a long story. donald trump will have his moment in the sun. there's a big difference between leading in between leading in a poll in the summer or fall ordinate before an election and the moment when a voter has to proactively cap the ballot. there's a lot of stories to be told. sure into what do you mean rock obama got in the way? >> barack obama was the rock star appeared he got the country excited about hope and change. the settlement double down on the citizen. republicans have failed to put together a broad vision for how they will lead us forward on big issues and he is taken up the space they fail to respond.
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>> this is all well and good. the five of us can be on site and say trump is a joke, but something is working here. this is a part of the fraternity pledging process call it what you will. the point is it's working right now he's got momentum. the so-called mainstream candidates jeb bush, marco rubio, chris christie, what do they need to do to get in there even if it's not what they want to focus on. >> hold on commentary. listen to me. maria: go ahead, richard t. at >> that's a perfectly good question and as terry pointed out not only was rick parry had four years ago at this point, but herman cain was a heady months from now four years ago. there's a lot of dust that needs to be settled. i agree about the mainstream people as part of the ideology, the part seriousness. donald trump featured as a foreign policy speech.
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it was devoid of foreign policy. i think people responding will say anything. maria: richard coming in and terry are saying you want from donald trump. i want more specifics from you. why is this about donald trump and what he's doing. that's working for him. what is not working for jeb bush is the fact donald trump handed him his low energy, as boring. what is jeb bush going to do? what did he do specifically to rid himself of the image that donald trump has branded him with? >> they will be shoulder to shoulder. the point i made a couple minutes ago was wanting to go after trump on ideology. i don't know if the republican base is caught up yet, but bush can go after him saying you are just not telling the truth and if he says that face-to-face,
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let trump come back in duke it out. sandra: put the spotlight back on trump. >> i look for one of the single-digit guys to grab the coattails of donald trump and make a little bit of news. i like john kasich in this situation because at the rga a few months back, walker and gentle were talking about balanced budget and tax reform. you can see he's done it. but the little bit of credibility, but still the blue-collar feel, he can really do well with comparison not what donald trump necessarily, but one of the lesser guys with less credentials. the >> down was unbelievable and he can do something like this. maria: i agree. kasich could be the sleeper. he's got the goods in what is able to do.
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walker has done great in ohio. and jeb bush has done great in florida. >> and he has an explanation point next to his name. >> isaac kasich and guys like walker might have the substance. trump has a style whether you like it or not. >> richards that trump is a liar. >> i absolutely did. this is not even debatable. the list of things that go on and on and jeb bush should challenge trump on the ground, but i do agree with your point they kasich will pick a fight with anybody as with chad because he is in his plan. i agree he's got a formidable record that jeb bush's standing in his way. it would be crazy to go after trump, not crazy to pick a fight
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and show himself stronger than bush. >> everyone says trump is a liar get you say don't go after him. >> jeb bush, absolutely. carly fiorina, absolutely. and chris christie if he's smart. this is his last gasp effort. in a sense, trump has the boastful but her personality laying the christie thought he would have. if christie is any hope of climbing his way back he's got to go after trump, too. >> this is politics and the clintons are in it. there is no last gasp ever. maria: that is interesting. richard, do you think hillary will be the candidate? >> absolutely. she is 20 points ahead of sanders in biden and his national polls by reputable polling organizations in the last couple days. had she shown weakness? she is. i think she looks like a pretty
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good darn bad. maria: good to have you both on the program. the pope mobile drones in focus during the papal visit next week at the actions the faa is taking next.
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maria: welcome back to my current crisis in your opinion versus country struggling to cope with the influx of people. cheryl casone on the story. >> good morning maria, good morning everyone. trying to sew them 12 migrant supporters of merely construct good offensive and riot police. german chancellor angela merkel calls for an emergency meeting for leaders next week to address the crisis. here at home the faa declaring in no drones out of new york, philadelphia and washington d.c. ahead of pope francis visit next week. the faa says anyone offline it
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drove maybe subject to civil and criminal charges. hewlett-packard planning to cut 33,300 jobs by the end of 2018. that's about 10% of the 300,000 work force hundred thousand workforce also reduces the size of the grouping restructures the company into separate entities. maria: thank you so much. hewlett-packard expected to result in $2.4 billion in severance costs on the hp story. we want to talk about the hewlett-packard impact on huge job cuts coming. michael, do you think this is an improvement for the bottom line? >> the question is what are they doing in mobile, what are they doing in enterprise. where are they going? thinking about the economy is large. where are the people going? we'll talk more about the job cuts and everything else today. what does that mean?
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the stockton hill at the company shows the growth, the drive out of pieces. maria: that is the question for the economy today. where does the growth come from? wilbur ross made an important point. given the fact we see out the job as head of hewlett-packard today, does this come up in the debate tonight? >> good point. it showed. maria: carly fiorina was the ceo of hp. >> what does that say about the overall economic environment not just here at home and globally. if they need to do this to make themselves sustainable and relevant, cutting costs, cutting jobs doesn't exactly paint a solid picture of the economy. maria: can the fed raised rates in the face of such sluggishness. >> i still say no.
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getting back to the base are they going to talk about this. they are going to talk about foreign countries stealing u.s. jobs and a great example of that. example of a company that was loaded. the question is what do you do with the folks. no multi-too much today about education and job training and things that create productivity and growth. we're focused on on trump is a liar and this guy said this and china is evil and that's unfortunate. >> we will see about that. the public will demand specifics in terms of what the candidates want to do or can do to move the needle on growth. >> taxes, economy, growth. who was pro-business? this election will die down to who can create a business friendly environment because it benefits everyone.
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>> unfortunately that is not the cause. evil hedge funds come evil trade protection. i want to hear someone else get loud. let's go. maria: i don't know if it's about getting loud as it is about getting specific. >> they have to be heard. sandra: donald trump says he is the best tax plan of anybody yesterday. he's the king of tax reform. he knows taxes other than anybody. that may be, but if he is such a great plan and he will put h&r block out of business, why not tell us exactly how you'll do that. maria: the answer is he doesn't have to. >> put the entire treasury and will move to atlantic city and reorganize. maria: is factor or trump
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personality? jimmy fallon knows how to do it. could it be the end of the oil export they had much of our congress trying to let the 40-year-old oratorio. a live report in chicago for the cme group next.
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maria: welcome back at house republicans planning to vote to lift the four decade-old ban. how would that impact the price of oil? >> good morning, maria. initially the past, which along right away obviously, the prices will go up initially, but that doesn't mean gasoline prices would go back down. and it's a gasoline prices start
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to go down because we moved the oil where it needs to be refined. people think because we start shipping will oversee products go higher but the truth is the opposite. oil does nobody any good when it is sitting here in storage. i will tell you one thing. you can't separate politics and oil and in this particular case the obama administration is against it because the houses proposing that. they think it should come from the white house, should come from the commerce department and even though his own secretary of energy, ernest monee is different lifting the ban, it will not happen even if the bill passes the house. maria: we will be watching. thanks so much. isn't it sad we are not addressing something that should be done because of politics, because the house brings it out. it is just absurd the federal reserve countdown is on. it's a rate increase on the
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table or not? yesterday we had a good rally. talking to economic advisor to jeb bush, martin feldstein. don't go anywhere. ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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train to a good wednesday morning. i am very a bar to rumble. as wednesday, september 16th. whitman 16th. with me this hour, sandra smith. trading partners michael block in our top story the gop debate is on. tonight likely to be contentious as they look to knock front-runner donald trump out. joe biden not in the race that is taking donald as well.
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joe biden blasted trumps and comments on instagram reflect the worst parts of society is putting out a sick message. aol ceo steve case on why he's speaking about trumps immigration rhetoric and my other business leaders. turning to markets. everyone waiting on the site at the two-day meeting kicks off today and we are waiting to see if we will see interest rates move higher. denounced tomorrow at 2:00 p.m. eastern. who advocate a mixed open of the broader averages. certainly off the lows of the morning. dow industrials will open flat to higher. s&p fractionally lower. big story today. jumping on news the company has broached a possible takeover with the combined value of companies would be $280 billion basically representing 50% of
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profits in the brewery industry. a facebook hoax you like the dislike. the company has shied away from such a in the past. the federal reserve kicks off the two-day meeting today. which investors ask that? bring and marty feldstein. former chairman of president reagan's council of economic advisor to presidential campaign. good to see you. thank you for joining us. what do you expect dean? >> i think they will pass. i think they will not do what they should do, which is to raise rates, start normalizing. they have talked themselves into being nervous and i think they will hold back. maria: you think they should hold interest rate -- raise interest rates, that is what you're saying? we have wilbur ross on and he said 30% of working age people
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do not have a job and frankly do not want a job. all this talk the employment numbers are getting better, let's not forget the participation rate. >> the participation rate is off by three percentage points. it is off because the population is aging. half of the decline in the participation rate reflects the fact as people age they are more likely to retire. >> with all due respect to wilbur, i don't think focusing on the lmp are separate thing. we obviously have this rate down to 5.1. payroll is going but the rate of change is slowing. do you see the rate picking back up? >> no, we are running out of people to higher. among college graduates the rate is 2.5%. overall it aside than 1%. we can't continue to increase
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the number of people employed after with our take on through the unemployment rate down. >> the ceo yesterday talking to maria basically said the quality of the jobs is not good right now. people are in jobs they don't necessarily want. the quality of the jobs is deterioradeteriora ting. when you look at the under employment numbers, that's a more realistic look at the overall jobs picture in the u.s. do you disagree? >> it is hard to think about where the general is the jobs are better or worse. certainly we are not producing the training and education that would give people better jobs. a lot of people go to college and study things with no market value and they come out and they are surprised they get a job they said this and require going
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to college. and not since he is right in the jobs are not what people would hope for. maria: it is not just about jobs. can you sustain growth in many trading partners are challenged candidates in recession, japan in recession, australia close to recession. we know what's going on in europe and china. how much of a factor but the international challenge be? >> a sickly reconvert domestically. we have created jobs while europe has not. europe has an 11 plus% in the u.s. has continually improved. too much is made of the external you think about china where there's a lot of talk that china is following what that will do to the u.s. exports to china are less than 1% of gdp. it's just not a big deal. maria: it is 25 basis points.
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sandra: sound off layoffs to mistake. it's refreshing to hear because not a lot of people think the numbers right now are good particularly in this country. if you're so optimistic on jobs, pretty up to mistake on trade partners. >> i'm not optimistic. they are in big trouble. it just doesn't pull us down. sandra: why not raise rates? >> we should. maria: censorship that they're afraid to. >> from the fed point of view, why should they raise rates? why should they drive it down further? 5.1 is full employment that they like to drive it down more. maria: they keep lowering that. >> their views even if we overshoot the natural rate of unemployment and go down into
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the fours, it will create some jobs for people who are not working now and push up wages and that's part of their gold. >> unemployment has come down quite a bit. talk of unemployment has risen more? >> verdict to be a sluggish. if it isn't growing, wages will not grow. we have to do things to change the businesses are doing, change the investments happening and that will lead to improvements. maria: do you think these will come up tonight? you have been advising jeb bush. but it's just going to say tonight? >> a no idea what is going to say. maria: does it do good in terms of knowledge, jobs, trade. we haven't heard anything for many of these candidates. >> users may have from jeb bush. he had a long piece about his
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tax plan. he's very specific. sandra: nobody is listening. >> should ask whether people were listening. sandra: i'm going to call you at -- no, you caught me out on something. i try not to do this, but she felt like we're being critical of donald trump. i don't think i was. i was being more critical of the rest of the gop field for thinking about donald trump rather than emerging on the road right. so what could the other candidates do tonight to change that? donald trump is lit in the conversation. >> i have no idea. i have talked with governor bush about specifics, but his tax plan and other things but not about how he deals with the media or the public appearance.
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maria: tell us what you spoken about with jeb bush and the specifics a couple days ago. what is most important in terms of the tax plan? >> basically to provide the incentives over the last couple decades. the top tax rate was 28%. it is now over 40%. the bush plan calls for reading it back down again. one of the things i like about the bush proposal is that it will allow married women to file their tax returns separately. now when a married woman thinks about going to work, she says my husband is in the 25% bracket. every extra dollar figures as 25% plus the social security payroll tax. if i go to work i will end up paying my first dollar of earnings.
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under the bush proposal she gets to file as a separate individual so she gets to file her first dollar of earnings should pay zero. maria: you can silence a couple or individual. >> u.k. asap to schedule and it's not a good thing. we've got rules which really hurt women who want to go to work will work full-time rather than part-time. this is a nice feature of the bush plan. also on the corporate side, we've been losing business to the rest of the world because the corporate tax rate is not the highest tax rate in the world. it is 35% statutory rate. the president -- the candidate has talked about bringing it down to 20% which would make it
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competitive with what is going on in europe and china and other countries. maria: they are trying to unravel president obama's tax plan. i have to agree with that. good to have you on the show today. marty feldstein joining us. steve case as donald trump has gone too far in immigration policy and it's time for business to speak out. fedex or something on first-quarter earnings. revenue in line with expectations but the shipping giant cut its forecast for the full year. fedex will be an issue on the downside this morning. we will be back in a minute.
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maria: welcome back. a search under her devastating floods in utah. cheryl casone with the story. >> good morning. flash flooding in utah's killed 16 people since monday night and four others remain missing today. floodwaters swept away two vehicles killing three women and 13 children in the border town of hillsdale. maria, back to you. maria: donald trump with his immigration plan calling america a dumping ground for the rest of the world. in a speech this week, america's better now with a new ad
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targeting trump another gop presidential hopefuls by invoking ronald reagan. >> i've spoken to the shining city all my political life. god rest in teeming with people of all kinds living in harmony and peace. >> they are bringing crime. if i'm elected, they will be out of their day one. >> i said we should end citizenship. maria: my next guest says trump is gone too far. he wrote an op-ed titled anti-immigration rhetoric here joining us is steve case, aol cofounder. thanks for joining us. tell us how you say donald trump has gone too far. >> her rhetoric has been a little out of hand.
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america is an immigrant nation. 250 years ago the reason we are not the leader of the free world is because we've attracted people including some great innovative entrepreneurs to build this into the leader of the free world and may continue to be a nag for talent. all kinds of stories. one gentleman graduated from wharton, was kicked out. went to india. 5000 employees could have been in the united states. immigration isn't just a problem to solve. that side of the debate isn't getting enough attention. maria: basically would like to see business speak out and get involved. >> business needs to speak out. the research and job creation that comes from 40% of the fortune 500 were started by immigrants. this has been a key part of our story and will be good in the
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future. countries recognize the innovation knowledge premiership is the way to drive the economy so they try to change policies to attract people at a time we push people away and have rhetoric that is unhelpful. maria: that is all true. the truth is we've been debating this morning with my colleagues on the desk. is resonating. even though he does not specifics on this planet, people like the fact he has this tough guy saying we are going to be the toughest and no one will mess up as. his rhetoric, like it or not is resonating. >> i agree it is resonating. because i'm an entrepreneur i respect the fact someone covenant of not having political experience with that momentum is encouraging to see. his language has been too caustic talking about immigrants ronald reagan debate will happen tonight. the other people on this stage will remember ronald reagan
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talked about an optimistic view in a pragmatic way with tip o'neill to pass immigration reform. by working together, uniting, not dividing and language that suggests immigrants are a key part of what makes us great. we have issues around border security. the senate bill did pass a bipartisan way back to the 700-mile fence and creating a digital exit system. things in the bill would've made the borders more secure, would've dealt with some of these issues. we need to get back to the debate on how to do with the issue in the 11 million people and status of some path to citizenship. these are tough issues, emotional issues but we need a constructive debate and not just the soundbite's takeover the policy.
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maria: sandra smith, jump in here. sandra: who do you see as the most geopolitical candidate, who is the best for growth? >> that's a good question. a number of candidates have been understanding of how works. sandra: like who? >> jeb bush, carly fiorina, marco rubio worked to create a startup backed several years ago. it's not just about business. how do we continue to be the most innovative and what policies run regulation and access to capital as well because that is the battle for talent. i hope there is more focus not just on this debate that make the news at how we make sure we have the t. and remained the leader of the free world and the most innovative in a lot than a
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lot of issues need that discussion. hopefully tonight at the reagan library there will be a more substantive debate about taking the nation forward and continuing to be a magnet for talent and immigrants who can help build the country for the future and create jobs for the future. maria: business does need a voice. we need a voice to move the needle on growth. sam asks the question we're all wondering. where is the growth in who has plans for growth? steve, we will watch you. coming up, the latest run for the white house that the ceo don beyer will be with us. back in a minute. trees? eese. xerox helps hospitals use electronic health records so doctors provide more personalized care. cheese? cheese! patient care can work better. with xerox. that's it. how was your commute?
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maria: welcome back. a quick check on futures. expecting a higher opening from a fractional misfire on the dow announced that. what went on yesterday? michael block 200 plus point rally. what is the market saying? >> so, everyone has come up with explanations. we talk all day. of course we were up yesterday. you also look at the short end of the treasury curve higher. if you look at the market yesterday you would've said the fed will raise rates on day and stocks are going higher. wrong. what happened was a situation with this sentiment has been in the past couple weeks. the meltdown because of china and all of a sudden they come out and never looking at the fed and when you talk about people and we are if they do and don't.
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we are going go lower. when you have people with possible scenarios to make you go lower, days like yesterday go higher because everyone is piling on pressing down and never has to make up a story like a rate hike is good now. everything is better. maria: welter called it a dead cat bounce yesterday. the market does not expect the federal reserve to move. >> there's a lot of. this is so higher than anticipated. obviously the next one could be more anticipated because fed fund futures are not pricing and a move. >> the two-year note yields seems to be pricing that in. pricing and pain among macro traders and investors with a lot of dysfunction. the yield curve or flatten them
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and suddenly it's going like this. >> a lot of people closely watched a report in march with the trends they are. the trend in the equity market and oil market has been speculative traders come in and buy them back for positions. the oil market would keep going down. people buying back sure positions could explain the rally. >> here is where i really agree with donald trump. maybe that is how we solve more problems. >> somehow i don't think that's how we solve our problems. in terms of markets where the converging all about the federal reserve and announce whether raises interest rates tomorrow. things have improved this morning that the next opening. asian markets higher in european markets higher as well. thank you for joining us. we will see you tomorrow. sandra smith and i will be back.
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director for president bill clinton don beyer plus republican congresswoman diane black on houseplants to vote on a bill to lift the export oil bed. back in a minute.
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maria: good morning, everybody. it is one day come september 16th. joining me fox business andersen at and meredith advised their founding -- the republican field gives up for the second debate tonight. the top 11 candidate including carly fiorina will participate in the apm debate. the remaining four candidates will appear in it debate at 6:00 p.m. events will be held at the ronald reagan presidential library in simi valley, california. we will take you there straight ahead. front runner donald trump not wasting any time. trump made a foreign policy speech last night aboard the uss iowa taken on immigration.
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>> right now, and you know it, we have illegal immigrants treated better by far than our veterans. it's not cannot happen anymore. maria: also a big day for the market that the federal reserve kicks off its two-day policy meeting. i look at inflation numbers in the pci number comes out. yesterday was below expectations and fedex mr. earning expectations. that is ahead by the meetings as well. the dow jones industrial average looking higher. issue a strong, stocks followed the rally on wall street with gains across the board. the shanghai composite up 5%. european markets higher at head of the federal reserve decision. cacm iga hacksaw higher between three quarters of a percent and
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1.5%. the stuff to watch in today's trading session, hewlett-packard. it will cut more than 33,000 jobs as part of a restructuring on top of the 55,000 has previously announced. fedex shares slumping 3% on first-quarter earnings. earnings missed expectations and the shipping giant cut the forecast for the year citing weak demand in the business. in northern california, firefighters make barbara sent devastating wildfire. now 3% contained and authority destroyed 600 homes in another nine dozen structures that risk. stephen colbert are lined up another big gas. apple ceo tim cook stops by to show off the new iphone 6s. but siri really stole the show. >> siri, what should i asked tim cook? >> do me a favor, ask him when i would get a raise. [laughter]
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maria: by her sleeping, wild finish to the dodgers game. thanks to a homerun is 3:30 a.m. on the east coast when the game finally ended. republican presidential candidates getting ready. lake berman in simi valley, california. a big one tonight. reporter: good morning, maria. a good one indeed. donald trump once again front and center here at the ronald reagan presidential library. it is safe to say he will be the focus of attention once again. a bit of a change this time around were less time in ohio he arrived a few hours beforehand. trump is already in town in california. last night he gave his beach aboard the uss iowa just down the road from where we are.
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trump has called himself a counterpuncher gave a bit of a prediction of how he might does on cheaper peripheral later tonight. take a listen. >> it's an instinct they do something special. they don't have it. believe me then i'll have it. it is just more of the same. reporter: that is a preview from there. so many questions you can really break this down so many different ways. the political outsider, soft-spoken.or ben carson has moved up to second place, how might he be touched upon by his rivals tonight. carly fiorina will be on the main stage for the first time as well and then jeb ocean scott walker have dropped in the polls. how will they respond? we will find out later tonight. maria: lake berman sticking with the 2016 race. twitter makes it easier to stick with the candidates. >> twitter has partnered with square, which is headed by ceo jack dorsey as well to allow
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candidates to raise money with a tweet. clinton, carter said, jindal have all enabled the future to donate via debit card inside of twitter. charging 1.9% for each transaction and twitter of course hoping this will help at their user engagement as growth continues to lag. we want to know how much changed for the top on social media is a fox debate last month. twitter send data about the biggest percentage in salaries. and carson site healthy spike at 35%. carly fiorina up a 20%. not surprisingly trump signed 18% pop. what did the gop candidates with the most mentioned. donald trump leads followed by bush and cruise and pardon among all the candidates, the donald so rained supreme.
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maria: thank you so much. more on the debate this hour. director dawn baer is with us. stay with us for the interview coming up on the program. wall street bracing for an increase in fed policy makers in their meeting today. the jpmorgan fund david, thank you for joining the conversation. >> i think it's a close call. the domestic data suggest they should raise rates. on the other hand they are aware of what goes on internationally. the data is not domestically focused to the case for not raising rates and waiting until later this year to get it done. something will happen this year. maria: later this year in october meeting in december, the next time she is oppressed conference to explain. sandra: backing up the fact you
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are saying this is a close call, "wall street journal" did a story saying about 46% expect the first rate increase out at this meeting. this is unbelievable to watch. at this point it would be a surprise to get a quarter-point hike. how do you think markets respond? >> at the fed does he see volatility iniquities at the long end of the curve relatively accurate. international forces will keep long rates will going forward. if this had goes i expect the yield curve to fight now. >> how impactful could a quarter-point beef? when you consider the fact that that is desperate to get out zero, if we were to see 25 basis points, is that that big of a deal? not that is not a big impact. the problem is the messaging and what may be following after that. that is my big concern with the long-term is you've got this
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$9.2 trillion trade that has to get on wound and raising those rates from the manchester perspective not a big deal. impact on the dollar strengthening is the problem. we've done this enormous quantitative easing program. we will not mind that easily and they keep inking we can. maria: john said earlier in the program is more important to signal than let's say the fed doesn't raise rates. but they signal. >> it's all about the messaging. if they go when you disable stay on hold if we will not put the cart before the horse. if they don't go they need to signal they are going to go. it's about communicating things because markets hate uncertainty and there's so much right now we need a clearer idea of what the fed is thinking. hopefully the forecast in the press conference will do that. sandra: what are you and your team doing to prepare your
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client for the impending change in political environment? >> were advocating not getting too wrapped up in any fed decision. this is the first hike in six years. understand it could lead to volatility. maria: how big is the 26 dean campaign? how big of a part is that plane in your decision-making? >> we tend to separate politics from investment. you can look at charts and given the market does best. we're focused on earnings from an equity standpoint. they still are low at 25 basis point increase. maria: frankly earnings have not been great. earnings were up .04%. and the other issue said earlier the international markets. added make in this point all morning. japan recession, canada and recession. we know what's going on in
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europe and china. can the u.s. show growth, sustained growth in trading partners are challenged? >> eventually the u.s. economy were not esteem. the next two years he can maintain the earth rate despite what going on internationally. we are insulated from a financial stand point. our biggest risk, contagion of fear. that is where things could shift inserts one factor markets. maria: do you think janet yellen is that i'm worried if i raised rates now double-click a very fragile recovery? >> they've alluded to the fact of these risks and the volatility inequity markets. even the hawkish members have been relatively quiet over the past few weeks as they signaled they are still figuring out what they will do tomorrow back to life in the beginning it will be a close call. maria: that doesn't make me feel
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good that they are still figuring out what they are going to do tomorrow. shouldn't they know what they're going to do? >> we've never been here. this is all brand-new and they are dealing with imperfect information and a lot of pressure. >> especially of earnings growth comes back. that's the one key to the forecast. if they continue to generate returns for me to see that growth come back. maria: we haven't seen it yet. a story on fedex coming out. good to talk with you. david leibowitz joining us. concern for investors but the company lowered guidance for the rest of the year. what does that mean for the global economy? fedex expected to open down sharply. seattle teacher school district reaching a deal to end the strike gave cbs entertainment head stepping down and the u.n. sending experts to iran to discuss past nuclear work. back in a minute. [ male announcer ] whether it takes 200,000 parts,
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maria: welcome back. >> good morning maria and everyone. i want to show you some live pictures from the hungarian border they will try to slow for the borders and riot police. german chancellor angela merkel calls for an emergency meeting next week to address the days. target is offering it at 335,000 u.s. employees. the firm looking into an expensive wearable devices as a way to improve the sn health care costs. finally, the earnings by fedex just not out with their
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first-quarter numbers. shares on peanut reapers that with the expectation. lowering the forecast for the full year in the freight business. looking at the ground division of 29% because obviously lower fuel prices with the boost in the numbers wasn't enough to help the company. >> springs into the concern for weeks and that is the fact oil prices have come down. who better to benefit from lower oil is then fedex. yet it hasn't happened. talk about lower gasoline prices in power and his numerous. >> at definitely not the case. a prime example of how the economy is driving the price of commodity. this is a good example. with a lower energy prices.
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how will they survive the weak economy. fedex by the way don't build not continue to pass on struggles. fedex express grant home delivery rising an average of 5% in january. raising prices across the board. that's unbelievable. >> economy so strong with retailers outside the liver and is there a fantastic. if you look at the three-month moving average, it is at a level it hasn't been since the great recession the lowest recorded history back to 1992. so much of economy booming. wage growth was the weakest in history. maria: the question comes back to the federal reserve and whether they can act raise interest rates in the face of an economy clearly struggling. >> kind of like a 17-year-old pregnant girl who dropped out of school for years ago.
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she wants to get a bright future. it is possible we want to get there. it is going to be tough to get there from here. 8:00 in the morning. >> sandra and i talked about yesterday the market are ready. if they are not prepared, they shouldn't be managing. maria: what is the fedex problem? ups does not have been the same problems. there is internal issues. ups says they'll hire more holiday workers this year than they did last year and next acting a better season. the forecast is not lower. >> we just started talking about christmas. maria: a word on the holiday hiring. so many jobs have done not.
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maria, after the conversation with jobs with martin signed with the overall jobs picture in this country, and he painted a pretty rosy picture. so-and-so is out of work, i want to be in right now. i might be employed but not where you want to be. it's a tough economic latter event for a lot of people who don't feel good. maria: they haven't seen their wages to the outlawed. up next, congress both a mother to lift the 40-year-old moratorium. we'll take you live to the cme in chicago next. stay with us. the internet of things. what we're recommending as your consultants... the new consultants are here. it's not just big data, its bigger data. we're beta testing the new wearable interface... ♪
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even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. maria: welcome back. house republicans planning to
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vote on a bill in the coming weeks to lift the four decade old ban on oil at worst. phil flynn standing by in chicago. how could this impact the price of oil? >> initially they make it go back out. when he prices to go back out because u.s. energy producers are struggling right now. one of the biggest things has been the revolution and the obama administration is more interested in politics than helping producers out. the bill will be posed by the white house. we should do it quickly because we are d.c. sign that dramatic drops in u.s. production. we cited yesterday's petroleum institute report with the supplies in oklahoma so by 1.5 million barrels. that is really a sign of how u.s. production is going. the u.s. energy information administration yesterday that shell production in texas has fallen for seven months in a row. they expected to thought 80,000 barrels at another reason
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oil prices are up today. maria: phil flynn, lifting the expert and could be a game changer. but if the argument with all the supply out there. >> that's a great question. i don't think -- i one for me but it made sense strategically to protect ourselves. questionable whether that was a reasonable risk on it at this point we are hurting our rent is said and their own jobs. we want our economy doing well and yet we are doing things to hamstring ourselves. >> one argument is that we export oil is not just use it all at home. that could defeat the purpose becoming one of the largest oil producers in the world. correct. i wish his giving you what i hear is the other side of the argument. i had to look up gop front runner donald trump's dance on the keystone pipeline. if you look it up, you will see
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he has supported a with no impact on the environment. i didn't know because you don't hear it talked about that much. i wonder if the energy to babel. maria: this is an important story not just for jobs but also national security. you have to believe specifics in terms of policies whether job creation, energy business, they are coming up and they will be forced to offer their own solutions. >> strategically, anything along those lines, proving the keystone pipeline did not put us in a better position as far as national security is concerned as well. >> the more we produce the oil would want. oil is a global market. >> you can always buy it at that price. it is not in the best interest to supply the number one economy in the world. global risks are little overstated. maria: cap, should we expect in
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on what tonight? we'll discuss that and more with the communications are for president though clinton. don baer is with us next. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?
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>> good wednesday morning, i'm maria bartiromo. it's wednesday, september 16th. with me is sandra smith and lenore hoffman. the second g.o.p. debate tonight, the debate likely to be contentious as candidates take their gloves off and go after front runner donald trump. split whether the feds will raise rates on thursday. from last hour, martin feldstein says they'll hold off.
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>> i think they're going to passment i think they're not going to do what they should do, start raising rates, normalizing, but i think they've talked themselves into being nervous, so, i think they're going to hold back. maria: yesterday's rally in stocks says the market is ready to hold back. we have he a -- we've seen a lower average. shares of ab index notes that they've ataecpproached miller, there would be profits in the brewery building. facebook is working on dislike after yeast of request. facebook shied away from a dislike button. after losing a finger in the fireworks accident, jason pierre paul posting videos of
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him back at the gym. he says don't believe the hype, be back soon. the giants didn't reveal whether he'll be back in season. could this be ten candidates versus donald trump? joining us now in an exclusive interview, former speech writer for president clinton, thank you for joining us. what are you expecting tonight? >> tonight, i look for who has the most to win and who has the most to lose. who has the most to win? carly fiorina. and she's done well. i think she's the one who keep an eye on. who has the most to lose at this point, jeb bush, no question about it. he has got to get some traction, they've been prepping him in a way to come out and where is the bite in jeb? i think that's the dynamic to watch and obviously, with donald trump in the middle of this who is dominating the whole thing at this point. maria: he's dominating the whole thing because he's resonating with the american people, but not because of
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specifics on solution, but i guess because of his bombastic way of communicating things. when are people going to demand specifics, economics and foreign policy? >> they're probably going to demand it when the media demands it. his motto is make america great again. the real question is how do we make america grow again? >> that's right. >> where do we find economic growth. that's why the country is frustrated and 12 years of saying we're on the wrong track. the middle class doesn't feel they're moving ahead. at some point specificity and being real is going to come home. donald trump is the only one actually resonating with him. >> you'll have to forgive me
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for what might be an elementary question. >> i specialize. >> with bill clinton, there are some of the amazing speeches of bill clinton's time. what do you think of donald trump's off the cuff in the moment speeches he's made so far, unscripted for the most part that we've seen. the best speeches in our time given the way that media covers, are conversations with the country. that's what donald trump is engaged in, a conversation with the country. it's a one-sided conversation the find of chat he likes to have, but he's up there articulating and expressing frustration. >> i was watching in dallas and the crowd behind him. watch the smiles and the nods on their faces and knowing smiles that people have up there because they have felt exactly, they've lived what he's talking about. he's articulating that. >> being unscripted, it seems genuine. when we've got low faith in our leaders, it's nice when we see someone who genuinely appears
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to be speaking his mind. >> we're coming from an era when our president is dependent on the teleprompt er. >> and no way donald trump could-- >> he's good at it. >> i believe what the secretary did, i'm going to set up a server in my home, nobody's ever done that before. colin powell didn't do that. it wasn't because she didn't want to carry two cell phones around, she's secretary of state, give me the red one, give me the blue one, who cares? >> your thoughts? >> is this what we're going to focus on. let's look at what we were just talking about, specificity is a character issue. hillary clinton had given more speeches talking specifically about what she would do to help move the country forward, just it's only two months ago she
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gave a speech in which she called for a new growth fairness in this and how she would proceed. it was well-received. two months ago. we haven't heard enough about that. >> she hasn't been giving interviews and answering repo reporters questions. >> that's all they want to talk about, is the server issue. we need to talk about what's matter otherwise donald trump will capture people's anxieties rather than thinking about what their hopes and opportunities are. maria: i'm totally with you on the growth story and that is the story that we want to hear from the candidates and we want to hear solutions, but to push back on the idea that is this what we're going to talk about? it's not necessarily about the server it's more about trust, you look at the poll recently and people said what words would you come up with to describe hillary clinton? what were the words? liar, you know. >> untrustworthy.
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>> i mean, these are the words that people-- it's not just about necessarily the e-mail scandal, but it's about how she's handling it. is she going to be upfront with the american people or live by different rules than anybody else? >> i understand that, but i want to come back to what we should be looking for in our leaders. we should trust our leaders who tell us here is what our problems are, here is the narrative of this country, here is how i'm going to help lead it and what i'll do about it. >> those are words. maria: why can't anybody do that? >> those are not words, those are actions she'll take. >> and her actions are also to do something that she knew she should not do and to give an excuse why she did it we know is completely unreasonable. most of us deal with the horror of having to carry two cell phones and she did something to put us at risk claiming she did it for her own personal use, that's an action that concerns me. not necessarily the e-mail, but that person to be my president that claims she will put us at risk so she doesn't have to
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care two phones, god forbid. >> most people live the reality of a no-growth economy, right, with no chance of getting ahead or their children getting ahead. >> great, but i can't trust her with two cell phones and how do i trust her with the economy. >> she needs to answer questions and she started to and come out-- i'm not disagreeing with you, but i want to-- i just hope that we're going to rise above that because we all have so much at stake in this election. maria: and we know how well bill clinton did. bill clinton is loved on both sides of the aisle, i guess is a fair statement. let me ask you this, one of her policies is it to double capital gains taxes. do you think that's going to fly? >> do i think i'm going to fly. >> what has donald trump said about it. >> i agree with you, we've got to get issues from donald trump. we're talking about hillary she wants to double capital gains taxes. >> she's talked about reforming corporate taxes and a refresh on taxes we all know we're going to have.
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if we are he going to double down and have a growing economy, we've got to put it to the highest values used and she's talked about in a detailed way. maria: what's most important for the debate and the debates to policy, taxes, foreign policy, give us your sense what's most important? >> right now we are face a serious, serious threat with regard to our own economic fortunes and future. that's linked directly to america's role in the world because we're sort of quavarring. this relates to the immigration situation, i hope we hear more about the economy, but i hope we hear more about how we represent america in the world. maria: and the migrant crisis going on. the leadership has never been more important and our leadership has never been more important. >> as hillary continues to drop in the polls, will we see more of bill clinton?
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will he step? he should be out with her if she wants to win. >> it's an eion about her. >> it feels like she's running from bill clinton's policy, bill clinton was a moderate in the second term. >> she said she's a moderate last week. maria: she's not acting like it, attacking business and wealth and she's running from bill clinton's policyments she didn't attack business and wealth. she talked about growth, she gave a speech all about growth and fairness. the truth of the matter is we can't have one without the other. some people want to make it all about a growth economy. some people, bernie sanders, all about fairness and equality. you can't do that. maria: how is 90% tax rate fair? bernie sanders wants to raise taxes 90%. >> i'm not here for bernie sanders. >> you're here for inn had. >> i'm not here for hillary clinton, either. i'm eager to hear more specifics from the candidates because to me--
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>> you also said that you've been getting more specifics from hillary clinton than any other candidate. i'm pointing out she's dropping in the polls and people are wondering where bill clinton is. >> i think it would be-- >> more of bill clinton. maria: yeah, he has a record to run off. >> well. >> she's not him. >> she's not him. >> and we shouldn't go back to the 1990's either and i'm proud of the small part that i played in all of that, but i just think that it's not about bill clinton, it's about hillary clinton. notwithstanding that, you know, he's a great communicator and the two of them are great in communicating to the country, too. so if that helps that should bring him out more. maria: and you're a sport to come on and go through everything with us. appreciate your time. we'll see you soon. and republican diane black will weigh in on that in a moment.
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>> welcome back. we are tracking the latest developments out of utah. the flash floods earlier this the week and cheryl casone with those headlines now. >> that's right, four people are dead and 16 missing after a flash flood described as one of the worst weather related disasters in the history of
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utah. it swept through a small town on the state's border with arizona. residents in the area are asked to boil water due to contamination risks. and you can't miss this this moment, terrifying moments when a pod of killer whales chase after a boat. the two fisher monday got nervous, when 30 whales surrounded their boat, they turned off the motor, animals didn't get hurt and the whales eventually took off, 30 of them. what's scary. thanks, cheryl. 2016 candidates, take the stage for the second debate. a representative diane black joins us from nashville. good to see you. thank you for being with us. >> great to see you. >> what are you expecting. >> i expect we'll start hearing solutions about what we need to do to get our economy growing to keep our nation safe with our national security.
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i hope what we'll do is hear those solutions and contrast those with what hillary clinton is saying, who is obviously the lead democrat opponent right now. so that we'll get some little bit of contrast between the republicans and the democrats and the solutions to move the country forward. >> what we've been talking about this morning, actually, in terms of solutions and specific granular comments and solutions to the issues of the country. who do you think has come out with the most specific plans in terms of economic reform, tax reform and foreign policy? >> i think that the american people are really the ones who are the winners in this when we have a number of our candidates that are giving solutions and there are a lot of people that are talking about different kinds of solutions, whether it's tax reform or growing the economy or even national security and i think that tonight maybe we'll see that come together and gel and we'll see one particular candidate or several candidates that give us really good deficit solutions.
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>> it sounds like you haven't heard a specific plan yet. >> i don't hear one person talking about all of those things. i want to hear one person and i don't have a favorite at this point in time. i'm still listening, but i'd like to be able to hear one person that could put it altogether to show that they could run this country. >> you wonder if it's the media pushing that or what will be the catalyst, ladies on the desk, in terms of actually getting these candidates to be specific? >> well, i think the field of candidates tells the frustrations of the americans when you have the extreme outsiders leading. maria: diane, the house is planning on voting on a bill to ban oil exports in the coming weeks. what is the issue? >> i'm ready to lift the ban. that was put out a number of years ago back in the 1970's when we had a difficulty with the amount of oil and all of the folks waiting in gas stations, but things have changed and we have now had a
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opportunity to have more in this country and an opportunity to lift this ban. >> good point. i've been hoeen looking back at gender aspect and the election. the g.o.p. obviously has a very solid female candidate right now in carly fiorina. what could she do to differentiate herself? do you believe that the g.o.p. can win with a woman? >> oh, i do believe that we could win with a woman and i think that carly has certainly a history of being a successful business woman. if there's anything that needs to be done in this country right now, that's to get the economy moving and by the way, that's what really helps women the most because 52% of our population is women, they're out in the work force, providing for their families and they want to hear someone talk about how to get the economy moving which helps them
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in the families and growing their families. >> you're on the big political stage yourself and you know, we still are going to look up at that stage and she's a woman amongst all men. does she need to act, behave, perform differently because she's a woman? >> i think she just needs to show that she's a strong woman with solutions. and i think the american people, both male and female are looking for that. i think they're anxious to get someone who can actually show us they have a plan and that they know how to move our country forward. by the way, with all the things that are happening in iran, i think they have to be smart about national security and how we can expect our country and become a world leader again, as i travel throughout the world, i hear that again. what has happened to your country both economically and milita militarily? i think that carly could show she can hold her own as i do in congress in my career, you get that respect. i don't think that people look at you as male or female, but
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look at you as someone who is a leader. maria: your defund planned parenthood bill will be considered. what are your prospects? >> i think that we'll see a strong vote in the house and we'll be asking the senate to bring it up. i will beat that drum. i believe we need to put this on the president's desk and show that the president does not show there's a concern whether there's a law broken. actually, we should be calling upon his own attorney general to do an investigation of this organization where we see potentially three large laws that are being broken and criminal activity that's taking place behind that veil of planned parenthood. maria: representative, good to have you on the show with us. >> thank you. maria: representative diane black. we'll be back.
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>> good morning, i'm nicole petallides live on the floor of the new york stock exchange. we've seen futures under pressure as everybody waits for the fed the next two days here. we're watching sabmiller getting a take over approach from anheuser-busch inbev. and you can see it higher by more than 5, $6. and watching sabmiller soaring about 20%. watch the brewers, heineken trading higher. it could be excess of 75 billion and could face son anti-trust regulatory hurdles because they're the two largest companies. consumer prices fell in august, and that could complicate things for the fed. much more on mornings with maria coming up after the break.
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>> welcome back. opening bell sounds in about 30 minutes. markets have been all over this place this morning, but i would not expect much ahead of the fed meeting decision. what do you think, sandra. >> i don't know, after yesterday's big close, might be a good time to study and learn how to invest in a volatile market. i don't see this uncertainty heading into the fed decision going away soon. it's going to be this meeting, next year, it's going to continue for quite some time. meanwhile, we're watching oil prices and that stock pile drawdown, more than a 2% rally in oil prices right now. the fed is watching that as well headed into tomorrow. maria: final thoughts from you, lenore. >> the next 36 hours two big events going on, presidential debate, which has been, probably going to be one of the most important presidential elections we've had in quite some time given the difficult position the economy is in, but what scares me more is the
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impactful fed division and wall street is breathless anticipation for every word that comes out of the fed and has more impact on the economy than the next president has. maria: we've got to hear specifics. if we don't hear about it in specifics in policy-- >> the manager of a large corporation, small businesses owners they all care where we're going with taxes and the regulatory environment. it all matters and jobs is number one. when polled the american people care most about jobs. maria: that's why the regulatory environment is so important. that's the biggest thing holding back business and job creation in the past hour. >> it's too hard. taxes are, and punitive poor them to hire people. maria: thank you so much. and tomorrow is a big day, fed day, charles plosser is here
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and we'll get reaction to the g.o.p. debate with congressman darrell issa. you don't want to miss that. thanks so much for being with us. "varney & company" is next, stuart have a great show, over to you. stuart: thank you very much indeed, maria. finally, this is the night. finally cnn will get a few showers. [laughter] because the clinton news network is featuring a debate that features donald trump. good morning, it will be entertaining, guaranteed and attract millions to politics, no doubt about it and vital to republican candidates low in the polls. if they don't break through tonight, the money might dry up. last night trump dominated the news cycle and went aboard the battleship iowa to call for military. and a small group of demonstrators. the thumbs

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